What situation arises when government positions are filled with people who have close ties to the group they are supposed to regulate?
A. Bureaucratic capture
B. Collective action
C. Governmental lobbying
D. Rent-seeking
A. Bureaucratic capture
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As oil prices increase, it becomes more economical to extract oil from sources like tar sands
Indicate whether the statement is true or false
If Nike, an American corporation, produces sneakers in Thailand this would
A) count as part of U.S. GDP since it is a U.S. corporation. B) count for both Thailand's GDP and U.S. GDP. C) add to Thailand's GDP but not to U.S. GDP. D) add to neither U.S. GDP nor Thailand's GDP.
Government can overcome the free rider problem by collecting taxes and using the funds to provide individuals with nonexcludable public goods that they want to buy but the market cannot provide.
Answer the following statement true (T) or false (F)
The goal of expansionary fiscal policy with respect to output is to:
A. increase spending and shift aggregate demand to the right in an effort to reach full employment output. B. increase spending and aggregate demand to get back to an output level the government is comfortable with. C. decrease government spending in an attempt to get the private economy back on track. D. increase spending and shift aggregate demand to the left in an effort to reach full employment output.